Savings Betrayed

risparmio tradito.gif

Saving is sacred!

We saved to be saved, but the banks don’t save anything or anyone.

Is it worth saving in Italy? It’s a struggle to put something aside and straight away an army of money-eaters jump on it.

The situation is really nasty. Most savers are in the hands of the management of savings.

This is an enormous machine constructed and brought to perfection by the banks with the blessing of Antonio Fazio.

The numbers speak clearly. Giving one’s money to someone else to manage means losing out. This is confirmed by the data for 2005, with the trust funds which gave a return of 1.7% less than the Buoni Poliennali del Tesoro (BTP, Treasury Bonds) and the funds based on shares with 5.6% less than the shares of Italian companies quoted on the Stock Exchange.

Unfortunately it’s been like that for 20 years. Even without Bertinotti, the Italians are already paying their inheritance. But instead of the State, the ones getting the money are the banks, the funding managers, and the investments sales people.

This is all true and the seriousness of the damage caused is documented by the Department of Mathematics at the University of Turin.

Even the research section of Mediobanca has been saying for years that the common funds regularly give a lower return than the BOT (Government Bonds)

So there’s no reason to hang around
. Every moment is good to save what can be salvaged by removing money from funds and managed savings. Every moment is good to throw off a mass of bloodsuckers.

To be on the safe side there are indexed State bonds (Italian BTPI or French Oatei) that the banks hope you won’t notice. Click here for more information about these and about other solutions.

Even Post Office Bonds with profits are not to be thrown away. They aren’t going to send the shivers of financial wizardry down your spine, but they do guarantee that you’ll get back your initial investment. However the other post office products are to be avoided – the ones that are copying the bank products.

There you go, free financial consultancy from a man from Genoa. What more could you want?

Posted by Beppe Grillo at 01:00 PM in | Comments (11)
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Comments

Risparmiate. Lo scegliere quanto consumare e quanto risparmiare del proprio redddito è una grave decisione di rilevanza economica. Non prestate attenzione agli spot televisivi del governo italiano che vi invitano a consumare, perchè consumando non aumentate di certo il PIL. Piuttosto risparmiate, non perchè aumenterà il PIL ma perchè aumenterete il vostro patrimonio e nel risparmiare indurrete l'economia ad essere più efficiente. Risparmiate

Posted by: _JusSx_ | March 15, 2006 12:08 AM


Thus the reason why I do NOT use my bank account here. I only use my American bank account. If I need to deposit money, I have my husband transfer the money from his bank here to my account in the States. The transer fees are less than what I would spend in annual fees here. Why should I PAY to have the privelege of having a bank account with poor customer service when I can have better services at no cost?!?

Posted by: Ann Borgers | March 10, 2006 12:26 PM


What more could I want? Exuberance man that I didn.t must more saving trust funds in bank.:-)))

Posted by: Baby | February 14, 2006 03:09 PM


...and always harder!

Posted by: Raffaella Biferale | February 10, 2006 04:37 PM


The Prince strikes back

Posted by: Giovanni Principe | February 10, 2006 04:07 PM


Prince, do you remember your answer to Griet? This one is better! BRAVO!

Posted by: Raffaella Biferale | February 9, 2006 11:42 AM


Of course I'm a loser!
And you know why?
Because your dad is a winner.

Posted by: Giovanni Principe | February 9, 2006 01:00 AM


Hey man!
what you talking about?
My father owns a bank and said you talk out of your ass... you want to mess up the current balance, don't you? you're a loser!

Posted by: Christian Finch | February 8, 2006 11:11 PM


Better than the West Bank

Posted by: Giovanni Principe | February 8, 2006 10:40 PM


The Holy Bank? ;-)

Posted by: Raffaella Biferale | February 8, 2006 08:54 PM


Jesus Saves.

What do you want to do?

Posted by: Giovanni Principe | February 8, 2006 06:24 PM


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